LIBOR Loans outstanding Clause Samples
The 'LIBOR Loans outstanding' clause defines the treatment and management of loans that are currently based on the London Interbank Offered Rate (LIBOR) as their reference interest rate. It typically outlines how these loans will be handled if LIBOR is discontinued or replaced, specifying the process for transitioning to an alternative benchmark rate and any adjustments to interest calculations. This clause ensures continuity and clarity in loan agreements by providing a clear framework for adapting to changes in benchmark interest rates, thereby minimizing uncertainty and potential disputes between parties.
LIBOR Loans outstanding. Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Loan if the Interest Period requested with respect thereto would end after the Maturity Date.
LIBOR Loans outstanding. If the Borrowers shall request any LIBOR Loan, the Bank at its option may make such LIBOR Loan by causing any domestic or foreign branch or Affiliate of the Bank to make such LIBOR Loan; provided that any exercise of such option shall not affect the obligation of the Borrowers to repay such LIBOR Loan in accordance with the terms of this Agreement.
LIBOR Loans outstanding. Subject to the terms and conditions set forth herein, the Bank shall make each LIBOR Loan by transferring the proceeds thereof to a custodial account at the Custodian in the name of the Borrower.
LIBOR Loans outstanding. At the commencement of any Prime Loan, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $1,000,000; provided, that any Prime Loan requested to be made to reimburse a L/C Disbursement pursuant to Section 2.06(e) hereof may be in the principal amount of such L/C Disbursement.
LIBOR Loans outstanding. Any Loan Request for a LIBOR Loan that would create greater than five (5) LIBOR Loans outstanding shall be deemed to be a Loan Request for a Base Rate Loan.
LIBOR Loans outstanding. LIBOR Rate Loans Outstandingprior to giving effect to the proposed conversion or extension:
LIBOR Loans outstanding. LIBOR Rate Loans Outstandingprior to giving effect to the Proposed Revolving Borrowing:
LIBOR Loans outstanding. Subject to the terms and conditions set forth herein, the Bank shall make each Loan by transferring the proceeds thereof to a custodial account at the Custodian in the name of the Borrower, provided that prior to the MMP Redemption, the Bank shall make each Loan by transferring the proceeds thereof to the MMP Auction Agent for the purpose of paying the redemption price of the MMP Shares to be redeemed pursuant to the MMP Redemption Notice.